REHDA president Datuk NK Tong - RAJA FAISAL HISHAN/The Star
KUALA LUMPUR: Plans to fix a 4% flat rate for stamp duty on memorandum of transfers (MOT) on purchases by foreigners and foreign companies is a cause for concern, says the Real Estate and Housing Developers’ Association (Rehda) Malaysia.
Its president Datuk NK Tong said although the number of foreign ownerships in Malaysia was negligible, this could discourage foreign homeownership.
American expatriate Ryan Habibullah, 35, however said stamp duty was not a make or break factor when foreigners decide to buy property here, as prices were comparitively low.
What really discouraged foreign ownership of property were visa regulations, he said.
